NY A01464

Transfers regulatory authority over continuing care retirement communities (CCRCs) from the Continuing Care Retirement Community Council to the Commissioner of Health, consolidating oversight functions including application review, certificate of authority issuance, and enforcement powers

Restructures the CCRC Council to serve in an advisory capacity only, assisting the commissioner on policy matters, conducting studies, and making recommendations to the governor and legislature rather than holding decision-making authority

Shifts financial oversight responsibilities previously held by the Superintendent of Financial Services to the Commissioner of Health, including review of actuarial principles, rate approvals, and financial feasibility assessments for CCRCs

Removes Insurance Law requirements that CCRCs comply with Department of Financial Services regulations, eliminating the exemption that subjected them to Article 74 insurance provisions

Allows the Commissioner of Health discretion to permit priority reservation fees exceeding the standard $2,000 cap, and authorizes the department to contract for actuarial services to implement the regulatory transfer, with key financial oversight provisions taking effect June 1, 2026